Nissan is open to new partners, including Foxconn

Nissan is open to working with new partners after merger talks with Honda collapsed, two people familiar with its thinking said Thursday, with Taiwan’s Foxconn seen as a candidate.

The struggling Japanese automaker is at a crossroads again after pulling out of talks with larger rival Honda to create the world’s third-largest automaker, a deal that would have been the latest big change in the changing global auto industry.

Nissan CEO Makoto Uchida met with his Honda counterpart, Toshihiro Mibe, early Thursday to tell him he intended to halt talks after Honda proposed turning Nissan into a subsidiary, according to a third source familiar with the situation. Because of the sensitive nature of the situation, the three people declined to be identified.

Nissan is now willing to collaborate with new partners, including technology businesses, as it strives to manage the technological upheaval caused by electric vehicles, software-driven cars, and fast-moving new Chinese manufacturers, according to two people familiar with its plans.

One of them stated that it was also willing to work with Foxconn, the world’s largest contract electronics manufacturer.

Foxconn’s electric vehicle business is headed by a former Nissan executive, Jun Seki, who was once considered a candidate to become CEO of the automaker before the post went to current boss Uchida.